Mutual of America Capital Management LLC Reduces Holdings in Edison International (NYSE:EIX)

Mutual of America Capital Management LLC trimmed its stake in Edison International (NYSE:EIX) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 46,372 shares of the utilities provider’s stock after selling 1,176 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Edison International were worth $3,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Farther Finance Advisors LLC lifted its position in shares of Edison International by 26.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,433 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 299 shares during the period. Intact Investment Management Inc. purchased a new position in Edison International during the 3rd quarter valued at about $73,000. Asset Management One Co. Ltd. lifted its position in Edison International by 7.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 199,035 shares of the utilities provider’s stock valued at $17,334,000 after acquiring an additional 13,820 shares during the period. QRG Capital Management Inc. lifted its position in Edison International by 13.5% during the 3rd quarter. QRG Capital Management Inc. now owns 18,196 shares of the utilities provider’s stock valued at $1,585,000 after acquiring an additional 2,161 shares during the period. Finally, Centennial Wealth Advisory LLC lifted its position in Edison International by 3.3% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock valued at $468,000 after acquiring an additional 172 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $55.22 on Thursday. The company has a 50 day moving average price of $59.88 and a 200-day moving average price of $75.87. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The firm has a market capitalization of $21.38 billion, a PE ratio of 16.19, a P/E/G ratio of 1.07 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. As a group, equities research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.99%. Edison International’s dividend payout ratio (DPR) is 100.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and lowered their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Jefferies Financial Group started coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barclays decreased their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.